Shipbuilder Sainty Marine Corp Ltd on Tuesday became the latest listed firm to report that it had failed to receive principal and interest repayments on a 900 million yuan loan to a property developer. The same day, Qiaqia Food Co Ltd announced that it would launch a lawsuit against another food producer for failing to pay interest on a 40 million yuan loan.» Read More
Feb 4- U.S. auto dealer Asbury Automotive Group Inc posted a better-than-expected quarterly profit as easier availability of loans amid an improving economy encouraged more people to buy cars.
Feb 4- J.C. Penney Co Inc on Tuesday said comparable sales rose 2 percent during the holiday quarter, reporting its first three-month period of growth in two years. In 2013, Penney lined up a $2.25 billion financing package and in September sold nearly $800 million in new shares to further shore up its finances.
Feb 4- U.S. auto dealer Asbury Automotive Group Inc posted a better-than-expected quarterly profit as an improving economy and easier availability of loans encouraged more Americans to buy cars. Asbury, which gets most of its revenue from sales of luxury cars made by BMW, Mercedes-Benz, Honda and Nissan, said it sold 10 percent more new cars in the fourth quarter.
The Thomson Reuters/ PayNet Small Business Lending Index, which measures the volume of financing to small companies, rose to 121.6 in December from an upwardly revised 114.6 in the prior month, PayNet said on Tuesday. "We are fairly optimistic there will be some growth coming at least from the small business portion of the economy," PayNet founder Bill Phelan said.
New York, Feb 3- An investment vehicle owned by Dish Network Corp Chairman Charles Ergen is joining an existing lender group to extend $33 million in financing to bankrupt wireless company LightSquared, court filings show. LightSquared's equity owner, Phil Falcone's Harbinger Capital Partners, is fighting to keep control of the company in a messy bankruptcy.
DUBAI, Jan 29- Abu Dhabi's Waha Capital, the largest shareholder in New York- listed aircraft leasing firm AerCap Holdings, plans to raise a $700 million loan mainly to refinance existing debt, three banking sources aware of the matter said.
LONDON, Jan 26- Loan refusal letters and retailers' rejections frame the walls of the Brompton Bicycle factory, a reminder of the obstacles the firm has overcome to establish itself as the UK's top bike-maker, selling 45,000 a year around the world.
SAO PAULO, Jan 24- Bankrupt oil producer Ôleo e Gás Participações SA has delayed detailing its restructuring plan to creditors by about a week as it tries to secure up to $200 million in new funding, said two sources familiar with the situation on Friday. Ôleo e Gás, controlled by Brazilian tycoon Eike Batista whose business empire collapsed last year, and its creditors were discussing terms of a potential $200 million debtor-in-possession loan, said the sources.
NEW YORK, Jan 23- One year after hiring a new chief executive to help it recover from a near brush with bankruptcy, E* Trade Financial Corp said it earned $57.9 million in the fourth quarter, reversing a year-earlier loss, as clients revved up trading while costs for bad loans fell.
TOKYO, Jan 23- Mizuho Financial Group Inc said it would replace the chief executive of its core banking unit, the latest management shake-up in Japan's second-largest lender as it tries to repair a reputation tarnished by loans to organised crime.
TOKYO, Jan 23- Japan's Mizuho Financial Group Inc named a new head of its core lending unit on Thursday in the latest shake-up of its management following a scandal over loans to organised crime.
WASHINGTON, Jan 22- The World Bank's private-sector arm on Wednesday accepted criticism from its internal watchdog that it should have done more due diligence on a loan to a Honduran company allegedly linked to multiple killings.
DAVOS, Switzerland Jan 22- Bombardier Inc does not need to refinance to complete the development of its $3.9 billion CSeries jet program, the Canadian train and plane maker's chief executive said on Wednesday.
*UniCredit sells risk on portfolio of project finance loans. MILAN, Jan 21- UniCredit has sold some of the risk on a 910 million euro portfolio of Italian project finance loans, freeing up capital for new lending and benefiting from growing appetite for such deals from specialist investors.
NEW YORK, Jan 19- Loans to businesses have risen to a record high and bank executives say they are increasingly optimistic about the U.S. economy. JPMorgan Chase& Co Chief Executive Jamie Dimon, who has long described himself as "cautiously optimistic" about the economy, recently dropped the modifier "cautiously," he said on a conference call with investors last week.
Jan 17- Wells Fargo& Co and U.S. Bancorp said on Friday they would stop offering customers a type of small, short-term loan that has come under regulatory scrutiny.
*China Credit Trust says pay out due on Jan. 31. SHANGHAI, Jan 17- The trust firm responsible for a troubled high-yield investment product sold through China's largest banks has warned investors they may not be repaid when the 3 billion-yuan product matures on Jan. 31, state media reported on Friday.
Jan 16- Citigroup Inc posted a lower-than-expected quarterly profit as the bank's fixed-income revenue declined in a "challenging trading environment." Citigroup shares fell 3 percent in premarket trading on Thursday. Citigroup drew down loan loss reserves by $670 million, compared with $91 million a year earlier.
Jan 15- Citigroup Inc said that it will sell mortgage servicing rights of $10.3 billion Fannie Mae residential first mortgage loans as the bank looks to reduce its assets and expenses within Citi Holdings.
Jan 15- Bank of America Corp, the second-largest U.S. bank, reported an eight-fold jump in fourth-quarter profit, driven by a steep fall in provisions to cover bad loans.